Jabil Circuit (JBL) Up 10% on Positive Earnings

Jabil Circuit (NYSE: JBL) is up close to 10% in late afternoon trading after it announced positive earnings this morning.

Fourth quarter income per share was $0.16 versus a $0.08 estimate. Revenues also were higher then forecast. Forward guidance also exceeded expectations, with Jabil now seeing first quarter EPS between $0.24 and $0.32 versus a $0.18 consensus.

Jabil also stated it would cut 4,500 jobs to continue cost cutting.

Jabil is up 9.45% to $13.44/share on 4X normal volume.